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Updated about 8 years ago on . Most recent reply
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New Investor Needing Guidance on How To Start!
Hello all!
I am in the Lexington, KY area and new to the real estate investment bizz. A little background on myself; I have my Bachelors in BA with an emphasis in Marketing. I have done nothing but sales since I graduated college. Two years ago, I decided to take it to the next level and get my real estate license. That led me to my current position where I have been doing leasing for single family, multi family, and commercial warehouse properties. I had to put my license in escrow since I can't technically sell for the company just yet. Coming up on my year with the company next month, I am prepared to start the transition as soon as possible to begin selling. That being said, I am single, and am in the process of closing on my first two story condo. The plan is to live in it and rent it out within the next year to two years. It doesn't need much work, so the upgrades I plan to do will be pretty cheap. A friend of mine and I plan to purchase a multi-family home by this summer to rent, and continue to branch out after that.
My questions, is, how does one get started? This is something I have been thinking about for quite a while now, and with the teaming up with my friend, we need some advice to help us get our feet off the ground! Thanks in advance!
Most Popular Reply
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@Rachael Crawford welcome to BP and the REI community! Congrats on your condo and getting your license! I can understand where you are coming from in wanting to start planning your financial future shortly after leaving college. It was not that long ago I was in that same boat. Here are a few tips on helping you on your journey. One, you need to get involved in your local REIA. See "Bluegrass Real Estate Investors Group" on Facebook. There is a meeting coming up (one every month) and you should come! It is a great opportunity in meeting others that are like minded and doing what you are wanting to do in your local market. Second, you need to define your buying criteria and find out what type of REI you are interested in (Wholesaling, Buy and Hold, Flipping, Tax Liens, ect...) Third, you may need to get your financial house in order and if not, continue to learn on the REI subjects that you wish to focus on. Good luck in all your REI ventures and look forward to seeing you at the REI! Come say hi!
- James Wilcox
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